Capital absorbs over US$1.12 billion in FDI in first five months

June 04, 2024 3:45 PM GMT+7

VGP - With many efforts to improve the investment environment and administrative reform, Ha Noi remains an attractive destination for foreign direct investment, with US$1.12 billion of investment capital in the first five months of 2024.

Capital absorbs over US$1.12 billion in FDI in first five months- Ảnh 1.

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The Ha Noi Statistics Office reported that, of the total capital, US$1 billion came from 92 newly registered projects, US$36.8 million from capital increases in another 64 projects, and US$57.9 million from capital contributions and share purchases in 86 projects.

In May, the city attracted 19 new projects with a total registered capital of US$17.3 million; at the same time, seven projects increased their investment capital by US$70.7 million; and there were 19 cases of foreign investors contributing capital and purchasing shares worth US$10.6 million.

In the first five months of 2024, the city issued business licenses to 12,900 new enterprises with a registered capital of VND124.3 trillion ($4.9 billion). This represents a 2 percent decrease in the number of enterprises and a 3.5 percent decrease in registered capital compared to the same period last year.

During this period, 5,400 enterprises resumed operations, an increase of 18.5 percent, while nearly 16,200 registered for temporary suspension, an increase of 29.4 percent. In addition, 1,700 enterprises were liquidated, an increase of 14.8 percent.

Nguyen Manh Quyen, Deputy Chairman of the Ha Noi People's Committee, said the city has been vigorously implementing administrative reform, pioneering the model of decentralization and power delegation in handling administrative procedures.

Hundreds of procedures have been delegated by the Chairman of the People's Committee to departments, districts and wards, he added. This has saved a lot of time and money and made the investment process less cumbersome.

The Deputy Chairman stressed that the city also pays great attention to listening to and processing feedback from investors and businesses. The Chairman of the Hanoi People's Committee has held a series of meetings and dialogues to remove difficulties and obstacles in many areas, such as procedures, land policy and taxes.

According to Quyen, in addition to foreign investors, people in Ha Noi are gradually becoming more confident about doing business./.

Kim Loan